Pakistan Sells 100% PIA Stake Amid Crisis; Buyers Demand Full Control

• Pakistan is selling its entire 100% stake in Pakistan International Airlines (PIA) due to decades of losses, billions in bailouts, and a severe financial crisis.
• All prospective bidders demand full managerial control and zero government involvement post-privatization, leading to the decision to sell the full stake.
• The government will receive only 7.5% of the bid amount in cash, with the remaining 92.5% injected directly into PIA for its revival.
• To make PIA attractive, PKR 654 billion of its debt was transferred to a holding company, yet the airline still faces significant federal budget support needs and outstanding taxes.
• PIA's sale, once a respected airline, highlights Pakistan's broader economic and governance failures, driven by chronic losses, overstaffing, and political interference.

Why It Matters: Pakistan's full sale of PIA underscores its deep economic crisis and buyers' demand for complete autonomy.